After the economic crisis that the country has experienced over the last several years, and the subsequent decline of the real estate market, 2012 is proving to be a record-breaking year on multiple fronts, giving us some of the highest numbers we've seen since 2006. Over the first six months of 2012, an encouraging trend emerged as far as New Hampshire real estate residential sales are concerned, with six consecutive months of double-digit percentage increases in residential unit sales compared to 2011.
You can take a look back at New Hampshire Real Estate 2nd Quarter Market Data. But here’s a look at the third quarter market data for New Hampshire real estate provided by the New Hampshire Association of REALTORS® (NHAR), and we think you’ll be pleased with the results.
July 2012 New Hampshire Market Data:
July followed the emerging trend this year with a 20% increase in residential unit sales in the state compared to the same month last year, which brought a consistent 20% increase to the year-to-date sales over January-July of 2011.
Moreover, the median price of residential sales was within $1,000, just 0.5%, of the median price in July of last year, “‘further evidence, according to NHAR, that values are stabilizing,’” reported David Cummings in the NHAR July 2012 Data Press Release.
For the local market, Sullivan County showed a 17% increase in unit sales compared to July 2011, while Grafton County dipped down 8% July 2012 compared to July of the previous year.
Although residential sales in Grafton County were down this month compared to July of 2011, its year-to-date sales showed an increase of 22%. Sullivan County displayed a 17% increase in both the month of July, compared to July 2011, and its year-to-date sales.
Grafton County experienced an 18% increase in condominium sales this July compared to the same month last year, making its year-to-date sales total 4% more than this time last year. While Sullivan County’s July condominium sales were down from July 2011, its year-to-date condominium sales remained 46% higher than 2011.
All 10 New Hampshire counties showed positive double-digit percentage increases in year-to-date residential unit sales for the first seven months of 2012.
August 2012 New Hampshire Market Data:
The market continued its upward climb in August 2012 with statewide residential home unit sales showing a 22% increase compared to August 2011. That was the eighth consecutive month of New Hampshire’s residential unit sales being at least 15% more than the corresponding months in 2011, which now brings the year-to-date total to 21% greater than January-August 2011.
For the first time this year, the month’s median sale price for New Hampshire residential sales was even with that of the same month last year. “‘...[I]t is fair to say that this improved median price trend is not surprising, considering the sales numbers we’ve been witnessing this year,’ said NHAR President John Rice” in the NHAR August 2012 Data Press Release.
All 10 New Hampshire counties saw unit sales increases in August 2012 compared to August 2011.
Residential sales in Sullivan County were up 41% this August from last August, and Grafton County residential sales were up 9% from last August. Year-to-date sales remained positive for both Grafton and Sullivan Counties, 20% and 21% respectively. In addition, year-to-date condominium sales showed an increase of 12% in Grafton County and 25% in Sullivan County.
September 2012 New Hampshire Market Data:
In September 2012, although the percentage of statewide year-to-date residential unit sales remained increased by double digits compared to 2011, the month’s residential unit sales was increased by a single digit 8% compared to September 2011. Although that is the smallest percentage increase over one month that New Hampshire has seen this year, an overall 19% increase in year-to-date sales for 2012 is still promising. View NHAR September 2012 Market Data.
Sullivan County residential unit sales dropped 11% in September 2012 compared to September 2011, while Grafton County experienced an 11% increase. All 10 New Hampshire counties showed positive year-to-date residential unit sales for the first nine months of 2012 compared to 2011, ranging from 15% in Rockingham County to 26% in Cheshire County.
Furthermore, while the year-to-date median sale price for New Hampshire remained down compared to 2011, September 2012 marked the first month this year in which the state’s median sale price for the month was greater than that of the same month last year. This brought the year-to-date median sale price margin up from -4% to -2% in just one month.
Our Local Real Estate Market
Let's take a closer look at our local market data. These are the year-to-date (January through September) residential home and condo unit sales numbers for three local New Hampshire towns, showing that from the state, to its counties, to local towns, we are seeing positive increases in sales this year:
Residential Home & Condo Sales Jan-Sept
(NNEREN MLS data, 7 Nov, 2012)
As summed up by Peter Francese in his article on October 25, 2012 entitled NH housing market recovery is gradual but firmly upward, “Based on the first nine months, New Hampshire REALTORS are on track to sell 2,000 more homes in 2012 than they did in 2011. That will mean $500 million more sales volume this year compared to last year, just in residential sales.”
If you are encouraged by these statistics and are ready to buy or sell your New Hampshire real estate, find a qualified REALTOR® at CG Shepherd Realty, LLC to guide you through the process.
CG Shepherd Realty, LLC: Serving the Dartmouth-Lake Sunapee and Upper Valley Regions, Eastman, & Vermont Real Estate Buying & Selling Needs for Over 24 Years.
If you are considering selling your Eastman NH property, one of the first steps is to request a comparative market analysis. A comparative market analysis (CMA) is a report prepared by a local real estate broker to identify the possible price range of a property. It is not the same as an appraisal, which identifies the exact price at a given time. It is crucial that property owners comprehend how a comparative market analysis is compiled in order to better understand why you need a comparative market analysis for Eastman NH properties.
How an Eastman NH Comparative Market Analysis is Created
The current value of a dwelling is driven by what a buyer is willing to offer. Since the economy changes regularly, a reliable way to estimate current value is to compare it to other listings that have sold in recent months. Active homes on the market are not accurate estimations of price since there is no way to determine what they will eventually sell for or if they will sell at all. When developing a comparative market analysis, listing brokers attempt to locate similar properties to yours, preferably in comparable areas, that have recently sold. It is not always feasible to find close matches, so adjustments are usually made to the price range to compensate for differences. The age, square footage, enhancements, updates, and other elements of the property are taken into consideration. Not all home features add value, and the dollar value of adjustments typically do not match the amount paid for them.
Why You Need A Comparative Market Analysis For Eastman NH Properties
A CMA report traditionally results in a recommended price range. Where a home falls within that range depends on the abundance and desirability of competing listings currently on the market and your time frame. If you have a small time frame in which to sell, your selected price should be more aggressive (at either the low end of, or even below, the price range). This is particularly true if there is a large volume of real estate on the market. In general, the higher you price a home, the more time it may take to find a buyer. However, in markets where competition is low and your property is extremely desirable, you may have the benefit of pricing at the high end of the price range. A knowledgeable real estate agent has the ability to help you with this decision and provide invaluable guidance. Wrongly pricing a home can lead to loss of valuable time and money as the property sits on the market deterring potential buyers, so rely on the expertise of a qualified real estate agent and the useful information provided by the CMA report to price your home appropriately.
You can see why a comparative market analysis is the first step to listing your Eastman NH property for sale. This is where the knowledge and experience of a professional are imparative. CG Shepherd Realty, LLC's team of qualified REALTORS® are happy to provide you with a comparative market analysis for your property. You can request a FREE comparative market analysis through our website, or find a REALTOR® to help you begin this process. For other guidance on marketing real estate for sale, review the other articles on our Shepherd Realty blog or contact us at CG Shepherd Realty, LLC.
CG Shepherd Realty, LLC: Serving New Hampshire’s Dartmouth-Lake Sunapee and Upper Valley Regions, Eastman & Vermont Real Estate Buying & Selling Needs for Over 24 Years.
Through the first quarter of 2012, we saw consistency in the real estate sales data for the state of New Hampshire. Each month, the state has experience double-digit percent gains in unit sales compared to the same months of the preceding year. As we’ll see here in the second quarter, June has been the sixth consecutive month of this trend. Let’s take a look back at the 2nd quarter data provided by the New Hampshire Association of Realtors®(NHAR):
New Hampshire home sales in April 2012 were the highest since 2006 with a 21% increase from April of last year. Median price, however, was down by 5% in April 2012 compared to April 2011. April-only sales increased in Grafton County by 44%. Although median price for the month decreased in Grafton County, Sullivan County experienced a 17% increase.
"For those of us looking for sustained improvement, this truly feels like a time for optimism," said NHAR President John Rice in the NHAR April Press Release.
May 2012 concluded with the even greater increase in New Hampshire residential home sales of 28% compared to May 2011 and a 21% increase in year to date sales from the first five months of last year. May-only sales increased in all 10 New Hampshire counties including 26% in Grafton County and 6% in Sullivan County. Both Grafton (7%) and Sullivan (10%) counties saw an increase in median price for the month of May as well.
'Where in the past we’ve been merely hopeful that things would start to turn, now we appear to have substance to justify that hope,” said John Rice in the NHAR May Press Release. “These are very, very solid numbers in the context of where we’ve been in recent years."
The state’s home sales showed yet another double-digit increase in June 2012 by 18% compared to June 2011. Again in June, median price increased in both Sullivan County (15%) and in Grafton County (5%) compared to June of last year.
Year to date residential sales for the entire state showed an increase of 20% compared to the first six months of 2011. From January through June, each month has reported an increase in home sales resulting in 5,775 total home sales this year in New Hampshire.
Grafton County has experienced a 32% increase in year to date residential sales but a median price decline of 3%, whereas Sullivan County has seen an increase in both sales (17%) and median price (2%) year to date in 2012. Home sales are not the only type of property sales showing improvement either. Sullivan County has also experienced a whopping 75% increase in condominium sales from January through June of this year compared to the same months of 2011.
According to residential home and condo sales data recorded by the Northern New England Real Estate Network (NNEREN) Multiple Listing System (MLS), these are the January 2012 through June 2012 sales numbers for some local towns:
Residential Home & Condo Sales
(NNEREN MLS data, 29 Aug, 2012)
As supply and demand continues its natural course, the numbers show that the market is gradually working it’s way back from being the predominate buyers’ market of the last five years to a balance.
"We are continuing to see more and more examples of multiple offers on properties," Rice noted in the NHAR June Press Release. "Sellers are beginning to regain some of the leverage that buyers have enjoyed for the last five or six years."
We at CG Shepherd Realty, LLC are excited for this trend and look forward to what is to come in the next quarter. If you are encouraged by these statistics and are ready to buy or sell real estate, find a qualified Realtor® to work with at CG Shepherd Realty, LLC.
CG Shepherd Realty, LLC: Serving the Dartmouth-Lake Sunapee and Upper Valley Regions, Eastman & Vermont Real Estate Buying & Selling Needs for over 20 years.
Eastman NH is a planned residential community in Grantham NH with easy access to I-89 and the Upper Valley and only a 2 hour drive from Boston. It encompasses a wonderful variety of areas each with it’s own special feature. Whether you’re on the golf course, on the waterfront of Eastman Lake, or by the wildlife preserve, each area of Eastman NH has it’s own special features. Let’s take a look at the incredible golf course homes for sale in Eastman NH.
A number of Eastman NH houses have a premier golf course location. Being on the Eastman NH golf course, these homes are located in an area of distinctive homes in Eastman NH. From their windows and decks, amazing golf course views of the fairways and greens with the woodlands and mountains behind can be enjoyed. From some you can even watch the golfers progress down the fairway or put on the green.
The championship golf course at Eastman NH includes 18 challenging and breathtaking holes against the stunning backdrop of the Green Mountains. Eastman Golf Links keeps very well-manicured and maintained fairways and greens without damaging the natural beauty of its New Hampshire landscape. They are environmentally conscious of the products and resources they use to maintain the course and are always striving to make their greens more “green”.
With the golf course only steps away, there are plenty of opportunities to walk the course yourself when you live in these Eastman NH golf course area homes. Eastman Golf Links has a fully-equipped golf pro shop, and a driving range and practice area for lessons, clinics and your own personal practice. With a variety of memberships to choose from and special golf outings and events throughout the season, Eastman’s golf course is an amenity that you’ll love in your backyard.
In every season, these golf course houses in Eastman NH are a treasured home and retreat. Take a look at the golf course homes for sale in Eastman NH if you want to be a part of this welcoming and wonderful community.
CG Shepherd Realty, LLC: Serving New Hampshire's Dartmouth-Lake Sunapee & Upper Valley Regions, Eastman, and Vermont's Real Estate Buying and Selling Needs for Over 20 Years.
(Both photos in this article are views from golf course homes for sale in Eastman NH currently listed by CG Shepherd Realty, LLC: MLS# 4017208 and MLS# 4143998)
New Hampshire real estate market data for the 1st quarter was recently released by both the New Hampshire Association of Realtors® (NHAR), as well as national market data from the National Association of Realtors® (NAR). Despite small decreases in March sales, overall the real estate market, both locally and nationally, continue to improve and the conditions remaining ripe for buyers.
NAR recently released statistics that existing-home sales (completed transactions that include single-family homes, townhomes, condominiums and co-ops) in the Northeast dipped 1.7% in March compared to the previous month, but those sales numbers are still 5.5% higher than they were in March 2011. (NAR News)
This was reiterated by NHAR, who released that first quarter residential home sales for NH were 17% above that of 2011 and, with record-breaking months in January and February of this year, the highest 1st quarter numbers they have seen since 2007. (NHAR eNews)
Home sales increased by double digits in nine of New Hampshire's 10 counties, with Merrimack rising 6%. However, the median home selling price declined in every county except for Merrimack and Coos. (NHAR eNews)
Some newer statistics available reveal that "out-of-state buyers purchased 22% of New Hampshire's home sales." (NHAR eNews) Carroll County saw 44% out-of-state buyers, Grafton saw 36%, and Rockingham 25%. Additionally, more than 22% of New Hampshire's home sales were second homes.
Whether in-state or out-of-state buyers, or first or second homes, the overall New Hampshire home sales projections for 2012 are looking very promising.
Contact CG Shepherd Realty, LLC to find out more specific market statistics for your community.
CG Shepherd Realty, LLC: Serving New Hampshire's Dartmouth-Lake Sunapee & Upper Valley Regions, Eastman, and Vermont's Real Estate Buying & Selling Needs for Over 20 Years.
Now that the weather has warmed up and the flowers are in bloom in New Hampshire and Vermont, it's that time of year again…time for spring cleaning! This ritual of homeowners and renters alike provides a rejuvenating lift for a home that has been closed up all winter long during our New England hibernation. For home sellers, spring cleaning is especially important. The spring market for real estate is the prime time for showings and open houses. Help your home to look it's best so that it attracts the buyer's eye.
Whether you're a spring cleaning veteran or new to homeownership, your spring cleaning experience doesn't have to be intimidating or overwhelming. No matter the size of your living space, here are 5 simple tips and tricks from HouseLogic to jump-start a thorough spring cleaning of your home:
1. After vacuuming up the cobwebs and dust, wash down your walls, but don't use spray cleaners. They like to leave streaks behind. Instead, soak a cloth in an all-purpose cleaner and wipe walls; then rinse with a cloth soaked in plain water.
2. Vacuum and wipe down your baseboards after you clean your floors because debris can easily get kicked up onto baseboards from the floor.
3. For washing windows, use a microfiber cloth soaked in a solution of ¼ cup vinegar, ¼ to ½ teaspoon dish soap and 2 cups water. Too much vinegar in the solution will leave windows cloudy, so don't go overboard.
4. Use a "whipped detergent" to spot clean upholstery. Mix equal parts dish soap and water and beat to a froth. Use a cloth soaked in the mixture to wash stain and rinse with a clean damp cloth.
5. To clean ceiling fan blades without sprinkling dust all over yourself and the floor, spray the inside of an old pillowcase with cleaning solution, slip the bag over blade and wipe clean.
Find more spring cleaning tips and tricks on the Spring Cleaning List for your home's interior and exterior. For room-by-room tips, check out Spring Cleaning 101.
If you're a home seller who really wants to make an impression on buyers, take a look at this article for Staging Your Home to Sell from the Shepherd Realty blog.
CG Shepherd Realty, LLC: Serving New Hampshire's Dartmouth-Lake Sunapee and Upper Valley Regions, Eastman, and Vermont's Real Estate Buying and Selling Needs for Over 20 Years.
As homeowners, there are preventative measures we can take to mitigate damage to our New Hampshire homes. "Each year, sewer and drain backups cause millions of dollars in damages…Waste water normally backs up through bathrooms, kitchens, laundry rooms, floor drains and sump pump holes" (MMG Insurance, Spring 2012 Newsletter). There is nothing pleasant about waste water backup. Although our New Hampshire homes could be susceptible to water backup and sump pump overflow, I think we can agree that we want to do all we can to avoid finding ourselves in this messy situation.
Here are 7 Tips to Prevent Waste Water Backup courtesy of MMG Insurance from their Spring 2012 Newsletter:
Make sure your drainage system is working properly.
Seal all foundation cracks to prevent surface water from entering the basement.
Gutters & downspouts should extend at least 10' from the foundation.
Lawns and driveways should slope away from the home.
Backflow inhibitors installed on drain lines can stop the backflow of sewage and waste water.
Sump pumps should not be connected to the home's sewage or drain lines.
Use a sump pump that can also be operated by battery backup or generator.
Bonus Tip: Check your perimeter drains to make sure they are free of tree roots and animal nests each year, and do not block the ends of drains.
If backup occurs, proper precautions need to be taken if you are cleaning it up yourself. If the backup is extensive or beyond your control, you should contact a water clean-up expert who is trained to deal with this issue.
Here are some tips for proper precautions before cleaning up:
Put on gloves, eye protection and face masks to protect against pathogens.
Disinfect all surfaces, washing your hands frequently.
Properly ventilate and dry the exposed areas by using floor fans, air scrubbers and dehumidifiers.
Hopefully, these tips and regular monitoring and maintenance of your home's drainage system can prevent your home from a water backup or sump pump overflow disaster.
CG Shepherd Realty, LLC: Serving New Hampshire's Dartmouth-Lake Sunapee and Upper Valley Regions, Eastman, & Vermont's Real Estate Buying and Selling Needs for Over 20 Years.
(image courtesy of Diy Plumbing & Drain
For the third consecutive year, January residential unit sales in New Hampshire increased from the prior January. According to recently released MLS data by the New Hampshire Association of Realtors (NHAR), the 656 single family homes sold in the Granite State in January 2012 showed a 20% increase from 549 homes sold in January 2011. The median price of those homes, meanwhile, continued to lag slightly behind, having dropped 4% from $207,000 in January 2011 to $198,500 in January 2012.
"Although it's human nature to look for that one defining month that signals to everyone that the recovering in the housing market is afoot, that's just not the nature of this economy," said NHAR President John Rice, a 40-year veteran of the real estate industry. "As we continue to hear from economists, we're probably in the early stages of a slow upward climb." Rice said he was encouraged by the fact that the 656 January sales were the most since 2007, but he pointed out that this mild winter, particularly compared to last year's frigid and snow-caked January, has likely played a role in the up tick.
"We're happy to report positive news in terms of the market, but we also need to be clear about the context," Rice said," and right now the context is that we've had positive conditions compared to last year."
The drop in the median price continues to be influenced by the foreclosure market. The New Hampshire Housing Finance Authority reported 368 foreclosure deeds recorded in December 2011, the highest December number since NHHFA began its reporting in 2005.
In terms of local markets, eight of the state's 10 counties saw unit sales increases in January compared to a year ago, including a 108% jump in Sullivan County, 45% jump in Belknap County and 36% in both Cheshire and Rockingham counties, and a 13% jump in Grafton County. Median price, meanwhile, saw increases in four of 10 counties, the largest of those being 22% in Coos County.
Grafton County also saw an increase of 27% in condo sales this January and a 54% increase in median sales price compared to January 2011.
Here are some local statistics from the Northern New England Real Estate Network MLS regarding changes in residential unit sales from January 2011 to January 2012: both Lebanon NH and Sunapee NH residential sales increased by 300%, Grantham NH showed an increase of 67%, and Hanover was down 33%.
With inventory still relatively high, interest rates low and prices competitive, Rice said he would not be surprised to see an excellent spring in terms of sales. "No predictions, but the market is certainly ripe for continued increase in activity," he said. "Those looking to buy a home have excellent opportunities right now." (Information provided by Dave Cummings, NHAR Director of Communications, Press Release, 23 February, 2012)
So take advantage of these great buyer opportunities and contact CG Shepherd Realty, LLC to talk to one of our qualified REALTORS® or begin your search for New Hampshire homes for sale on our website.
CG Shepherd Realty, LLC: Serving New Hampshire's Dartmouth-Lake Sunapee and Upper Valley Regions, Eastman & Vermont Real Estate Buying and Selling Needs for over 20 years.
(From NHAR (New Hampshire Association of Realtors®) eNews on October 6, 2011)In New Hampshire, 214 communities currently participate in the National Flood Insurance Program (NFIP). In communities that participate in the NFIP, property owners and renters can purchase insurance to protect them against losses from flooding. Communities participate by agreeing to adopt and enforce a floodplain management ordinance designed to reduce future flood risks.A map of communities participating in the program can be found here.Within the last two weeks, Congress has passed, and President Obama has signed, the Continuing Appropriations Act (H.R. 2608), which also includes a provision extending the NFIP until Nov. 18, 2011.(H.R. 2608, Sec. 130)
Continues through November 18, 2011, the authority of the Administrator of FEMA to issue notes or other obligations to the Secretary of the Treasury to carry out the flood insurance program. NAR (National Association of Realtors®) is urging Congress to finish its work on the five-year re-authorization bill (H.R. 1309) before this latest extension ends, to provide certainty and avoid further disruption to real estate markets.Contact FEMA for more information about the National Flood Insurance Program.
CG Shepherd Realty, LLC serving the Upper Valley, Dartmouth-Lake Sunapee Region buying and selling needs.
When you hear the term “underwater” in reference to New Hampshire homes, you may logically think they are located in a flood plain, but there is another definition of the term that has an entirely different meaning. “A home is considered underwater when the amount owed on the mortgage exceeds the value of the property” (Callahan, Kathleen. More N.H. homes ‘underwater,’ report says. New Hampshire Business Review. 23 September 2011-6 October 2011, p 39). According to this definition, New Hampshire has seen an 8% increase in underwater homes over the last year resulting in a total of almost 19% of all of the residential mortgaged New Hampshire homes being “underwater”(Callahan). Although this percentage is several points below the national average, it still has a large impact on the state’s housing market. At the crux of it all is the issue of negative equity. New Hampshire’s rate of negative equity homes has increased over the past year, in contradiction to the decrease in the country’s rate as a whole. Home equity is “the current market value of the home minus the outstanding mortgage balance” (http://www.investorwords.com/5605/home_equity.html) Home equity increases when payments are made towards the mortgage balance, or when the property’s value appreciates. Negative equity refers to “those whose borrowers had less than 5 percent home equity”(Callahan). In other words, those with negative equity are approaching “underwater”, let’s say they’re knee-deep but not in over their heads yet.Mark Fleming, chief economist of CoreLogic, an analytics and business service, sums it up well, ‘High negative equity is holding back refinancing and sales activity and is a major impediment to the housing market recovery’(Callahan). Fleming also says, ‘The hardest-hit markets have improved over the last year, primarily as a result of foreclosures, but nationally, the level of mortgage debt remains high relative to home prices’(Callahan). View the entire article at nhbr.com. Contact CG Shepherd Realty, LLC to learn more.
CG Shepherd Realty, LLC serving the Upper Valley, Dartmouth-Lake Sunapee Region buying and selling needs.